The Fossil Fuel Bubble

The Fossil Fuel Bubble

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Green Builder Media CEO Sara Gutterman

Friday, February 21, 2014 - 8:20am

CONTENT: Blog

An interesting phenomenon is happening in the world of philanthropy. 17 large and reputable Foundations, including the Ben & Jerry’s Foundation, The Educational Foundation of America, The John Merck Fund, The Russell Family Foundation, The Sierra Club Foundation, and the Wallace Global Fund, with assets totaling nearly $2 billion, have launched an initiative to divest from fossil fuel investments and place those funds into clean technology and organizations that beget a sustainable future.

This initiative, called Divest-Invest Philanthropy, has been created to raise awareness about the importance and urgency of moving away from fossil fuels and towards climate solutions. The Foundations involved in the Divest-Invest Philanthropy are joining environmental activist organizations like Bill McKibben’s 350.org as well as college students across the country (who are questioning en masse the endowment investment practices of their schools) to make a stand.

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CATEGORY: Environment